Steph & Co. Sells 659 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Steph & Co. lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 13,204 shares of the network equipment provider’s stock after selling 659 shares during the period. Steph & Co.’s holdings in Cisco Systems were worth $667,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CSCO. Key Financial Inc grew its stake in Cisco Systems by 3.9% during the fourth quarter. Key Financial Inc now owns 20,010 shares of the network equipment provider’s stock valued at $1,011,000 after acquiring an additional 755 shares in the last quarter. Oakworth Capital Inc. boosted its holdings in shares of Cisco Systems by 1.8% during the 4th quarter. Oakworth Capital Inc. now owns 31,233 shares of the network equipment provider’s stock valued at $1,578,000 after purchasing an additional 561 shares during the last quarter. Telos Capital Management Inc. lifted its position in shares of Cisco Systems by 1.9% in the fourth quarter. Telos Capital Management Inc. now owns 321,894 shares of the network equipment provider’s stock worth $16,262,000 after buying an additional 6,047 shares in the last quarter. KLCM Advisors Inc. lifted its position in shares of Cisco Systems by 13.2% in the fourth quarter. KLCM Advisors Inc. now owns 287,072 shares of the network equipment provider’s stock worth $14,503,000 after buying an additional 33,381 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new position in Cisco Systems during the fourth quarter valued at approximately $43,000. 73.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CSCO. Wells Fargo & Company started coverage on Cisco Systems in a report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price objective on the stock. UBS Group boosted their price objective on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Morgan Stanley assumed coverage on Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price on the stock. Finally, StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and a consensus price target of $56.03.

Cisco Systems Price Performance

Shares of CSCO traded down $0.13 during mid-day trading on Wednesday, hitting $47.79. 13,999,327 shares of the company were exchanged, compared to its average volume of 19,574,100. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year high of $58.19. The company has a 50 day moving average of $49.18 and a 200-day moving average of $50.32. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The stock has a market cap of $193.51 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 2.73 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. During the same quarter last year, the company earned $0.76 earnings per share. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. Analysts expect that Cisco Systems, Inc. will post 3.19 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be paid a $0.40 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Wednesday, April 3rd. Cisco Systems’s payout ratio is currently 48.63%.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.